Shiba Inu's price dropped below $0.00003 on March 12, and some important signs suggest the uncertain phase might stick around.
Around 20,000 people who held Shiba Inu for a long time sold their coins recently, likely to make profits. This happened after Shiba Inu's price shot up by 300% to reach $0.00004 on March 9.
During the last month, many meme coins like PEPE, Dogecoin, BONK, and Dogwifhat saw huge increases in their prices. Shiba Inu wasn't left behind, rising by 420% from $0.000009 on February 4 to $0.00004 on March 5.
This rapid rise meant that people who had Shiba Inu for a long time and bought it when it was at these prices in 2021 were able to make profits. Based on recent data, many of these long-term holders sold their coins when prices were high.
A metric called "addresses by time-held" shows that the number of people holding Shiba Inu for a year or more decreased from 1.03 million on February 29 to 1.01 million on March 13, meaning 20,000 long-term investors sold their tokens in March.
This selling started in early March when Shiba Inu's price crossed $0.00003, a level it hadn't reached in two years.
Long-term investors are important for the stability of any cryptocurrency network. Their selling not only increases the available supply but also sends negative signals to other investors and may discourage new ones.
Confirming this negative trend, the number of transactions on the Shiba Inu network dropped by 81% over the past week. When transaction numbers decrease while the price is rising, it indicates less demand for services on the network, which could lead to a halt in the price rally.
Shiba Inu's price is currently facing pressure as it goes above $0.000032. If selling continues, it might find support around $0.000024, but if that level breaks, the price could drop further.
Despite the decrease in network activity, if traders and speculators keep buying, the price might stay above $0.000030 for a while. Breaking above the resistance at $0.000043 could indicate a more positive outlook.
2 Under $1 Cryptocurrencies to Buy for Struggling Crypto Portfolios 1. JasmyCoin (JASMY) JasmyCoin, an AI-generated token with a vibrant community, has seen price surges, hitting a new high of $0.0425. Supported by strong technical indicators, itâs a solid pick for those rebalancing struggling portfolios. 2. Pepe Coin (PEPE) Pepe, a leading meme coin, has been gaining traction and shows potential to reach $0.00002. A promising buy for diversifying and boosting underperforming portfolios.
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Can $PEPE cross the point of 1$ ? yes, It can but how read it. Pepe was launched in April 15, 2023 at a price of around $0.000000001 now its price is 0.00000724. one time it stroke the peak of 0.00001074. 800% raise in march 2024 which give sea profit to Evey pepe investors. The number of pepe holders will have to increase by over nine times to match $SHIB Inu. That number nearly doubles to match $DOGE . PEPE is removing coins through burning strategy which can create huge scarcity in market to raise its price. 1% of all transaction fees are permanently removed from circulation. Pepe 1$ price is reality like $BTC (price was $0.30 in 2010) while in 2009 its price was $0.0009 each. Now you can guess the price of pepe in near future. Florida native Laszlo Hanyecz ordered two pizzas for 10,000 Bitcoins in 2010. Follow + like + comments for more updates. #pepeburning #PEPERealityCheck #BinanceLaunchpool #Bitcoin âïž #PEPEâ€ïž
The Shiba Inu ($SHIB ) cryptocurrency has garnered attention for its potential to turn investors into millionaires if it hits $0.01 per coin. Currently, you'd need 100 million SHIB tokens to reach that mark, which costs around $2699. Experts predict SHIB could reach $0.01 between 2033 and 2040, citing its massive supply of 589 trillion coins as a barrier. However, the project's team is working on reducing the supply through a burn mechanism, which could accelerate its journey to $0.01.
While some predict $SHIB will hit $1 during this bull run, let's talk supply and demand. With the total crypto market cap around $2-2.5 trillion, and 75% of it in $BTC and $ETH , hitting $1 for would mean a market cap of 589.29 trillion! đ While a surge is expected, $1 might be a stretch. Let's keep an eye on the market and trade wisely! đ° #CryptoNewsđđ„ #BullRun #BinanceLaunchpool #bitcoinhalving
đ Dive into the Crypto Ocean: What's Up with SHIB Whales? đ
đ Attention, fellow crypto explorers! The seas of Shiba Inu (SHIB) are buzzing with news of massive whale activity. But what's the big deal behind these ocean-sized transactions?
đ Whale Tales: Meet the whales â the titans of the crypto deep, holding vast treasures of SHIB. Their moves can cause waves across the market, leaving smaller investors curious and cautious.
đž Making Waves: So, why are these whales making a splash with 100 billion $SHIB tokens? Some say they're cashing in on sky-high profits, while others speculate on a shift in the tides of confidence.
đ Ripples of Impact: Brace yourselves for potential turbulence! Big sell-offs could rock SHIB's boat, stirring up uncertainty among smaller investors. But remember, in the world of crypto, waves come and go.
đź Future Horizon: Keep your eyes on the prize! Beyond the waves, consider SHIB's tech, team, and community. While whale moves can cause a splash, the long-term journey depends on more than just one big sale.
đ Stay Afloat: In the vast expanse of crypto waters, it's easy to get lost in the currents. But with a steady hand on the helm and a lookout for opportunity, you can navigate the waves and chart your course to success.